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Business & farm
Hello, I have the same problem. I got 2 1099-NECs as a single member LLC taxed as an S Corp. I've included that income under sales and service receipts, it's about 40% of my gross revenue. There's no way to enter more data in turbo tax about it? When I get a personal 1099 I put the payer's information & TIN to show the IRS I'm acknowledging it. Won't the IRS be curious why two 1099s are going unreported by the payee? I just don't want to get audited my first year in business. I know you've already answered this I just want to clarify this won't be a giant flashing red light on my 1120-S, thanks!
March 15, 2022
7:49 AM